Surety Bond Quarterly - Fall 2014 - 5

Contents

WHAT'S INSIDE
FALL 2014

32

FEATURES
	 12	 An invaluable resource

	18	 Surety Bond Guarantee
Program changes for
the better

NASBP's SuretyLearn.org
website gets contractors
up-to-speed.

Under the leadership
of Lalumiere, Gibbs,
the Office of Surety
Guarantees is strengthening
its partnership with
the industry.

	14	 Advocacy update
NASBP Legislative
Fly-in sets stage for final
push to pass individual
surety measure.

	16	 The twists and turns of
best value selection-
and other timely topics

Join us for the Nov. 12-13
Federal Contracting and P3
Conferences cohosted by
NASBP and Smith, Currie &
Hancock.

BY NICOLE NELSON

	22	 Front line underwriting

	28	 Encrypting email
The first step in securing
sensitive information.
BY LARRY BODIE

	32	 It's finally here
FASB issues new revenue
recognition standard.
BY TIMOTHY T. WILSON AND
MICHAEL J. SOBOLEWSKI

	34	 CPAs standing

Choosing a quality
construction CPA.

in the GAAP

BY JOHN ARMOUR AND
EMILIO ALVAREZ

BY KEITH A. LANGLEY

	26	 Getting in the weeds
Requirements for marijuana
surety bonds.

BY ALAN I. SALTMAN

Why sureties rely on CPA's.

	39	 Resource Directory
DEPARTMENTS
	7	 NASBP Upcoming

Meetings and Workshops

Surety Bond Quarterly
FALL 2014, VOL. 1, ISSUE 2

AN OFFICIAL PUBLICATION OF
THE NATIONAL ASSOCIATION OF
SURETY BOND PRODUCERS

NECESSARY
ELEMENTS
FOR SUCCESS

www.suretybondquarterly.org

BONUS

2014 RESOURCE
DIRECTORY INSID
E!

RELATIONSHIPS,
KNOWLEDGE AND
TECHNOLOGY
SuretyLearn.org:
A Bonding
Orientation
Resource
Why Sureties
Rely on CPAs
Revenue
Recognition
Rule Explained

www.nasbp.org

ON THE COVER
Fall 2014
Success is like a puzzle-if you're missing
key pieces, your vision won't come together.
This issue of Surety Bond Quarterly speaks
to those pieces, zeroing in on the interplay
of relationships, knowledge and technology
that make success possible. Speaking of
relationships, this issue contains a bonus 2014
Resource Directory to ensure you're connected
to the right people when you need them. Here's
to piecing together your success!

	7	 2014-2015 NASBP

Executive Committee

	8	 From the CEO
	10	 Practical Insights:

What You Need to Know

	58	 Index to Advertisers

View this and past issues
online anytime at
www.suretybondquarterly.org.

Surety Bond Quarterly is brought to you by the National Association of Surety Bond Producers, 1140 19th St. NW, Suite 800,
Washington, DC 20036-5104; Phone: 202-686-3700; Fax: 202-686-3656; www.nasbp.org. NASBP Manager: Kathy Jo Mapes Hoffman
Published by: NAYLOR, 5290 Northwest 1st Place, Gainesville, FL 32607; Phone: 800-369-6220; Fax: 352-331-3525; www.naylor.com.
Publisher: Heidi Boe, Editor: Rasha Slepow, Project Manager: Beth Sheahan, Marketing: Edward Ottenga
Advertising Director: Rick Jones, Advertising Sales: Jason Zawada, Shane Holt, Layout & Design: Gufran Khan
PUBLISHED OCTOBER 2014 * SBP-Q0314 * 5119

NATIONAL ASSOCIATION OF SURETY BOND PRODUCERS | WWW.NASBP.ORG

5


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Surety Bond Quarterly - Fall 2014

Table of Contents for the Digital Edition of Surety Bond Quarterly - Fall 2014

2014-2015 NASBP Executive Committee
NASBP Upcoming Meetings and Workshops
From the CEO: Successful construction relationships require the right relationship
Practical Insights: What you need to know - bond and lien notice pitfalls
SuretyLearn.org: An invaluable resource
Advocacy update
Nov. 12-3 Conference addresses the twists and turns of best value selection - and other timely topics
Surety Bond Guarantee Program changes for the better
Front Line Underwriting: Choosing a quality construction CPA
Getting in the weeds: Requirements of marijuana surety bonds
Encrypting email
It’s Finally Here: The new revenue recognition standard
CPAs standing in the GAAP
Resource Directory
Index to Advertisers
Surety Bond Quarterly - Fall 2014 - cover1
Surety Bond Quarterly - Fall 2014 - cover2
Surety Bond Quarterly - Fall 2014 - 3
Surety Bond Quarterly - Fall 2014 - 4
Surety Bond Quarterly - Fall 2014 - 5
Surety Bond Quarterly - Fall 2014 - 6
Surety Bond Quarterly - Fall 2014 - NASBP Upcoming Meetings and Workshops
Surety Bond Quarterly - Fall 2014 - From the CEO: Successful construction relationships require the right relationship
Surety Bond Quarterly - Fall 2014 - 9
Surety Bond Quarterly - Fall 2014 - Practical Insights: What you need to know - bond and lien notice pitfalls
Surety Bond Quarterly - Fall 2014 - 11
Surety Bond Quarterly - Fall 2014 - SuretyLearn.org: An invaluable resource
Surety Bond Quarterly - Fall 2014 - 13
Surety Bond Quarterly - Fall 2014 - Advocacy update
Surety Bond Quarterly - Fall 2014 - 15
Surety Bond Quarterly - Fall 2014 - Nov. 12-3 Conference addresses the twists and turns of best value selection - and other timely topics
Surety Bond Quarterly - Fall 2014 - 17
Surety Bond Quarterly - Fall 2014 - Surety Bond Guarantee Program changes for the better
Surety Bond Quarterly - Fall 2014 - 19
Surety Bond Quarterly - Fall 2014 - 20
Surety Bond Quarterly - Fall 2014 - 21
Surety Bond Quarterly - Fall 2014 - Front Line Underwriting: Choosing a quality construction CPA
Surety Bond Quarterly - Fall 2014 - 23
Surety Bond Quarterly - Fall 2014 - 24
Surety Bond Quarterly - Fall 2014 - 25
Surety Bond Quarterly - Fall 2014 - Getting in the weeds: Requirements of marijuana surety bonds
Surety Bond Quarterly - Fall 2014 - 27
Surety Bond Quarterly - Fall 2014 - Encrypting email
Surety Bond Quarterly - Fall 2014 - 29
Surety Bond Quarterly - Fall 2014 - 30
Surety Bond Quarterly - Fall 2014 - 31
Surety Bond Quarterly - Fall 2014 - It’s Finally Here: The new revenue recognition standard
Surety Bond Quarterly - Fall 2014 - 33
Surety Bond Quarterly - Fall 2014 - CPAs standing in the GAAP
Surety Bond Quarterly - Fall 2014 - 35
Surety Bond Quarterly - Fall 2014 - 36
Surety Bond Quarterly - Fall 2014 - 37
Surety Bond Quarterly - Fall 2014 - 38
Surety Bond Quarterly - Fall 2014 - Resource Directory
Surety Bond Quarterly - Fall 2014 - 40
Surety Bond Quarterly - Fall 2014 - 41
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Surety Bond Quarterly - Fall 2014 - 43
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Surety Bond Quarterly - Fall 2014 - 53
Surety Bond Quarterly - Fall 2014 - 54
Surety Bond Quarterly - Fall 2014 - 55
Surety Bond Quarterly - Fall 2014 - 56
Surety Bond Quarterly - Fall 2014 - 57
Surety Bond Quarterly - Fall 2014 - Index to Advertisers
Surety Bond Quarterly - Fall 2014 - cover3
Surety Bond Quarterly - Fall 2014 - cover4
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